D'Aguilar Gold Limited (ASX:DGR) Identifies Second New "Carlin Style" Gold Province In QLD
Carlin style gold mineralisation was typed near the town of Carlin in Nevada USA in the early 1980s. It occurs as the result of low temperature mineralised solutions precipitating gold, silver and sulphide minerals in porous limey, magnesian and carbonaceous sediments, which had been made porous by acid solutions emanating from nearby intrusions and fragmentation from fault activity. The mineralisation occurs in long structural corridors known as trends, such as the famous Carlin and Battle Mountain trends which host in excess of 200 million ounces of gold. The trends are important features which are the focus of the intrusions, faulting and mineralisation.
In the northern Bowen Basin area, D'Aguilar geologists have recognised a similar set of favourable parameters - limey and carbonaceous sediments and volcanic rocks in regionally extensive Coal Measures at the base of the Bowen Basin, which have been faulted and sheared to produce a porous and permeable host able to absorb mineralising solutions emanating from porphyry style intrusions emplaced in long and pervasive fault corridors, as occurs in Nevada.
D'Aguilar's subsidiary Navaho Gold Pty Ltd (formerly Navaho Mining) has lodged a total of 14 applications for Exploration Permit for Minerals (EPM) along almost 200 kms of strike, and covering some 3,800 sq kms between Clermont and Collinsville.
D'Aguilar Group Exploration Manager Neil Wilkins commented that key to recognising the potential of the north Bowen Basin was the availability of recent new Queensland Government run geophysical surveys over much of the area. "D'Aguilar's exploration team has reviewed the magnetic data and identified several major NNW structures intersected by WNW reverse or thrust faults, with numerous Cretaceous aged porphyry style intrusions through the Bowen Basin evident along the major structures. We have targeted a number of prospects with close similarities to the Crunchie Prospect in Central Minerals, which already has strong Carlin style credentials and long intersections of potential ore grades for gold previously announced".
"On the basis of the regional geochemistry and airborne magnetic surveys we can see several target areas already. In the north of the area of interest around Byerwen there are large unclosed high level gold soil anomalies (up to 55 ppb gold) recorded, and recorded alluvial gold at Plum Tree Creek and the Weetalaba Deep Lead. A single scout hole in silicified sediments on the anomalous western area by AMC-Posgold in 1993 assaying 2 metres at 9 g/t gold from surface does not appear to have been followed up (former EPM 9209). Further to the south east, in an area now within the Hail Creek coal mining lease, exploration by Jabalaka Pty Ltd in 1990 reported the presence of outcropping jasperoid breccia assaying up to 17.2 g/t gold at surface (former EPMs 5418 and 5916)," Mr Wilkins said.
Other targets at Newlands, Glenden, Elphinstone, Burton and Coppabella are based on the intersection of NW and WNW structures and their proximity to intrusions. No geochemical information is recorded as collected by previous explorers.
History of D'Aguilar's gold effort in the Bowen Basin Over the past three years D'Aguilar has been successfully exploring for gold in the Rannes project area, along a 200 km zone of the eastern edge of the Bowen Basin stretching north from Cracow (west of Gladstone and Rockhampton). During this time D'Aguilar has identified gold and silver mineralisation occurring in relatively flat lying near surface sediment and shear hosted zones where mineralising fluids flowing from deeper intrusives have encountered limey sediments. These low temperature, medium sulphide content, sediment hosted deposits are in contrast to the near vertical vein hosted low sulphidation deposits in older rocks that are evident at the Newcrest Cracow gold mine, and bear striking similarities to the "Carlin Style" of mineralisation of Nevada, USA, home of some of the world's largest open cut gold mines.
D'Aguilar's tenements in the Rannes area are held within its 79% owned subsidiary Central Minerals Pty Ltd, and as announced to the ASX on 4 December 2009, subject to shareholder approval, Central Minerals will shortly be sold to Solomon Gold Plc (LSE AIM: SOLG) to create an integrated south west Pacific gold company of which D'Aguilar will hold approximately 17%. Solomon Gold proposes to commence a more extensive exploration program for the Central prospects shortly after the merger is finalised.
Late in 2009 D'Aguilar's exploration team commenced research to identify replications of this style of mineralisation. This investigation identified the eastern edge of the northern Bowen Basin, west of Mackay, as having striking similarities. The area stretches north north west from Clermont to just south west of Collinsville. Apart from a significant current and historic coverage with Exploration Permits for Coal there was little evidence of previous exploration for minerals.
Experience at Rannes and in the Carlin district in Nevada has demonstrated that new sediment hosted gold districts are readily recognised by their extensive gold - arsenic - silver - antimony stream sediment anomalism, over drainages in excess of 200 sq km. This feature will allow rapid progress of exploration within this large tenement package.
D'Aguilar Gold has commenced the search for a CEO for Navaho Gold, and a capital raising within Navaho ahead of an IPO and listing on a recognised stock exchange.
The Navaho project follows the recent initiatives in respect of D'Aguilar's merger of its subsidiary AusNiCo Limited with the tier 1 TSX-V listed Lions Gate Metals Inc., and Central Minerals Pty Ltd with Solomon Gold Plc, all consistent with D'Aguilar's business strategy of advancement of its project focussed subsidiaries.
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About DGR Global Limited
DGR Global (formerly D’Aguilar Gold Limited) (ASX:DGR) is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world-class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
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